Al Jouf Cement approves capital hike, elects board members
Al Jouf Cement Co.’s extraordinary general assembly on Monday approved a board recommendation to increase capital by 10 percent to SAR 1.43 billion, from SAR 1.3 billion via a bonus shares issue.
Shareholders of record at the general assembly meeting day, and those who are registered at the Securities Depository Center two days after the general assembly meeting, are eligible to receive the bonus shares, the cement producer said in a statement to Tadawul.
During the meeting, shareholders also elected board members for the upcoming three-year term starting on August 6, 2017.
The new board members are Ashri Al Ashri, Saad Hudaib, Mohamed Attia, Abdul Elah Ka’aki, Faisal Al Kholi and Abdulaziz Ka’aki.